State spending: the price of regulation plateaus

Article Abstract:

States will spend less on insurance regulation in 1998, with the aggregate 1998 budget for the 50 states and the District of Columbia projected to rise by a mere 1.1% from 1997. It will be the smallest increase in aggregate budget since 1988. From $344.4 million in 1988, state spending for regulation has ballooned by 115% to reach $740 million in 1997. However, the projected 1998 spending may still change, such as 1997 spending which was originally estimated to reach only $704.5 million. The downturn in the rate of increase signals a new trend toward fiscal conservatism in state insurance regulation.

Insurance Regulation ex Auto-State, Finance, Industry regulations, Government regulation of business, Trade regulation, Insurance law

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Genetic testing takes center stage

Article Abstract:

Pres Bill Clinton endorsed a bill passed by Rep Louise Slaughter concerning the regulation on the use of genetic information by health insurers. Some of the life and disability insurers use genetic information as a scheme in carving out classes of risk. The stakes in the genetic information and testing are bigger for life and disability companies because these policies are sold on an individual rather than a group basis.

Life insurance industry, Disability insurance

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Trends moving toward Glass-Steagall repeal

Article Abstract:

Moves to integrate financial services may be spurred by the incoming 105th Congress. Legislative trends indicate that Congress may be preparing to repeal the Glass-Steagall Act and pass a comprehensive financial services modernization law. National banks and major insurers and securities firms will continue to lobby Congress to integrate all financial services.

Commercial Banks, Commercial Banking, Financial Services, Finance and Insurance, Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Financial Regulation NEC, Column, Economic policy, Securities industry, Commercial law, Deregulation, United States. Congress

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